Part of my anxiousness regarding the many real estate developments and re-developments in Huntington Beach is knowing when to report and when not to report as I am observing a roller-coaster mixture of plans for action, actual action, and actions halted. I have decided to err on the side of my enthusiasm for the significance of even having a roller coaster ride like this to observe in our fair city. Arguably the most iconic portion of our icon-laden community is the beachfront itself, and perhaps the reason I am very interested in what is happening in the beachfront development of Huntington Beach is due to the lasting, citywide, real estate-strengthening impact the beachfront projects represent. In other words, I welcome the ideas for beachfront development, and celebrate their implementation, eagerly awaiting news regarding either.
A quick flashback to the very early nineties as the country had lumbered squarely into a recession (sound familiar?). The stretch of Huntington Beach beachfront real estate along Pacific Coast Highway from Beach Boulevard to the south all the way up to 1st street (almost up to the pier) remained relatively undeveloped unlike the downtown area which saw a massive revitalization effort just prior to the late eighties/early nineties economic decline. A long-abandoned hotel sat along this prime location until the Hilton Waterfront Beach Resort broke ground in the early nineties, boasting 290 luxury rooms with 24 suites and the world renown Shades Restaurant and bar featuring nearly two decades worth of one of Orange County's most admired Sunday Brunch experiences HiltonWaterfront.com . Since it's opening, the resort has continuously rated at the top by hotel guests and critics alike. The exciting news? Earlier this year, plans were submitted for the building of a second tower with 156 additional rooms on the east portion of the parcel owned by the Hilton, fronting Pacific Coast Highway and promising more of the same luxury for which the resort has a well-established reputation.
Pacific City, the proposed uber-development for the stretch of waterfront property just a little further up Pacific Coast Highway toward Main Street and the pier, has as I've mentioned previously, been stalled. Crescent Homes, the developer of the residential portion of this amazing parcel of beachfront real estate, has still no word on a start date. On a positive note, DJM, the developer of the commercial portion of this development which fronts Pacific Coast Highway has identified Newport Beach's Olson Company to work specifically on the boutique hotel parcel, removing the long-speculated "W Hotel" from the mix. DJM submitted revised plans for the commercial space roughly six weeks ago, with the approval process expected to last another month or two. In short, all of these commercial developments, in spite of residential delays, spell a strong and welcome influx of financial strength into Huntington Beach, insuring Huntington Beach homeowners and potential homeowners a highly attractive real estate marketplace. While I hope to avoid restating the obvious implication, the time to develop a good Huntington Beach real estate strategy with an local expert such as myself is right now!
Ann Stefanucci
714-822-9453
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